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In 'Reverse Brexit,' India Passes Tax Reform to Boost Trade

After years of political bickering, tax reform - considered transformative - has been passed by India's upper house of parliament, paving the way for a country of 1.3 billion to turn into a common market (free trade area). In the long run, the Goods and Services Tax (GST) will boost India’s $2 trillion economy by doing away with a confusing mesh of taxes and duties levied by India’s 29 states and the federal government that have bogged businesses. Finance Minister Arun...

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